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US Dollar Technical Analysis 05.21.2013

Ilya Spivak

US Dollar Technical Analysis Prices put in a bearish Dark Cloud Cover candlestick pattern below resistance at 10822, the 50% Fibonacci expansion, hinting a move lower is ahead. Initial support is at 10722, the 38.2% level, with a break below that targeting the 23.6% Fib at 10599. Alternatively, a reversal above resistance exposes the 61.8% expansion at 10922.

Forex_US_Dollar_Technical_Analysis_05.21.2013_body_Picture_5.png, US Dollar Technical Analysis 05.21.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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